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Stock award plans (Tables)

12 Months Ended

Dec. 31, 2012

The following table summarizes information about the Company’s stock-based award plans as of December 31, 2012:


	Outstanding Options		Outstanding Restricted Stock Units		Shares Available for Future Issuance
2004 Equity Incentive Plan		17,983,708		3,761,031		6,521,347
2004 Non-Employee Directors’ Stock Option Plan		690,831		—		109,169

Total		18,674,539		3,761,031		6,630,516

Stock Based Compensation Expense Recognized in Accompanying Statements of Operations

Total stock-based compensation expense recognized in the accompanying statements of operations is as follows (in thousands):


	Year Ended December 31,
	2010		2011		2012
Employee-related	$	13,478	$	11,202	$	13,224
Consultant-related		102		2		68

Total	$	13,580	$	11,204	$	13,292

Stock Based Compensation Expense Recognized in Accompanying Statements of Operations by Category

Total stock-based compensation expense recognized in the accompanying statements of operations is included in the following categories (in thousands):


	Year Ended December 31,
	2010		2011		2012
Research and development	$	7,926	$	5,366	$	6,167
General and administrative		5,654		5,838		7,125

Total	$	13,580	$	11,204	$	13,292

Assumptions Used to Calculate Fair Value of Employee Stock Options

The Company calculated the fair value of employee stock options granted during the years ended December 31, 2010, 2011 and 2012 using the following assumptions:


	Year Ended December 31,
	2010		2011		2012
Risk-free interest rate		0.74% — 3.14%		0.10% — 2.43%		0.32% — 1.16%
Expected lives		2.6 — 6.1 years		1.1 — 6.1 years		1.4 — 6.1 years
Volatility		78% — 102%		76% — 83%		70% — 84%
Dividends		—		—		—

Summary of Stock Options Outstanding

The following table summarizes information about stock options outstanding:


	Number of Shares			Weighted Average Exercise Price per Share		Aggregate Intrinsic Value ($000)
Outstanding at January 1, 2012		10,082,351			5.67	$	168
Granted		9,795,600			1.81
Exercised		(3,216	)		2.86
Forfeit		(715,131	)		3.96
Expired		(485,065	)		15.17

Outstanding at December 31, 2012		18,674,539			3.46	$	4,867

Vested and expected to vest at December 31, 2012		17,546,663			3.53	$	4,867
Exercisable at December 31, 2012		7,199,768			5.26	$	602

Summary of Restricted Stock Unit Activity

A summary of restricted stock unit activity for the year ended December 31, 2012 is presented below:


	Number of Shares			Weighted Average Grant Date Fair Value per Share
Outstanding at January 1, 2012		4,137,688		$	4.47
Granted		1,371,455		$	2.25
Vested		(1,277,572	)	$	4.25
Forfeited		(470,540	)	$	4.49

Outstanding at December 31, 2012		3,761,031		$	3.73

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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